BGC PARTNERS - CCOLA 1Q18 BETTER
HOLD Maintained… We expect the earnings announcement to have a positive impact on the stock performance due to strong EBITDA figure. However, 1Q is a low season and the weather was exceptionally favourable in 1Q18. Thus, 1Q18 performance may not be sustainable for the remainder of the year as previously indicated by the management during the analyst meeting at end-March. Currently, our ex-dividend target price is TL40.26, pointing to a 12-month total return of 17%.Coca-Cola Icecek is a bottler and distributor of alcohol-free beverages in Turkey, Pakistan, Central Asia and the Middle East. Co. focuses on the production, sales and distribution of sparkling and still beverages with The Coca-Cola Company (TCCC) trademarks. Co. has rights to produce, sell and distribute TCCC branded beverages including Coca-Cola, Coca-Cola Zero, Coca-Cola Light, Fanta, Sprite, Cappy, Sen Sun, Powerade and Fuse Tea in TCCC authorized packages throughout Turkey. Co. also has the right to produce, sell and distribute Burn and Gladiator branded energy drinks throughout Turkey, as well as bottling and distribution rights in Turkey for Schweppes branded beverages.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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